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CEO hints at ‘meaningful’ M&A deal this year to boost AI chip business

Samsung Electronics Vice Chairman Han Jong-hee speaks at the company's 56th regular shareholders meeting held in Suwon, Gyeonggi Province on Wednesday. (Samsung Electronics)

SUWON, Gyeonggi Province — Samsung Electronics' top executives apologized to shareholders on Wednesday for the company’s poor stock performance, acknowledging its failure to capitalize on the artificial intelligence boom and maintain a competitive edge in key businesses, especially chips.

Facing tough questions from shareholders at this year's annual meeting, Vice Chairman and co-CEO Han Jong-hee vowed to make a "painstaking effort" to drive a rebound by enhancing Samsung’s technological edge in AI chips and pursuing a "meaningful" merger and acquisition deal this year.

"We sincerely apologize for not meeting shareholder expectations regarding our stock price. Over the past few years, we failed to respond properly to the rapidly evolving AI chip market, and our key product segments — including smartphones, TVs and home appliances — did not achieve satisfying results," Han said during the 56th annual shareholders meeting at the Suwon Convention Center in Gyeonggi Province.

"Escalating pressure from US tariff policies and retaliatory measures from affected countries has also had a negative impact. Despite these challenges, we are fully committed to enhancing shareholder value and will spare no effort in making necessary changes to achieve this goal."

Samsung Electronics' stock price, which hovered around 70,000 won ($48) in March last year, has since declined to the 50,000 won range, frustrating investors.

On Wednesday, the tech giant's stock prices edged up 1.56 percent to close at 58,500 won.

Chip woes

Samsung’s Chip Division head, Vice Chairman Jun Young-hyun, admitted that the semiconductor business' poor performance was a key factor behind the stock decline.

"We initially missed out on the early high-bandwidth memory market due to a delayed response, but we have since restructured the company and laid the foundation for all necessary technology development," Jun said.

While Samsung remains the world’s largest memory chip maker by revenue, it has been lagging behind its smaller rival SK hynix in HBM chips, a high-value component critical for AI processors.

"We will do our utmost to meet shareholder expectations in our HBM business, with all employees working together to ensure we do not repeat past mistakes."

Jun added that Samsung will start mass production of 12-layer HBM3E chips in the second quarter of this year or in the second half at the latest. He also noted that the company expects to mass-produce next-generation HBM4 and custom HBM chips in the second half of the year.

'Do-or-die' strategy

The executives’ commitments come a day after Samsung Electronics Chairman Lee Jae-yong delivered a rare, direct message, urging employees to adopt a "do-or-die" mentality to tackle mounting challenges and regain technological leadership.

At the shareholders’ event, Han also pledged to drive future growth through large-scale M&A deals in the semiconductor sector this year.

"We recognize that M&As are a crucial strategy for future growth. ... We will do our best to push for a meaningful M&A deal and achieve visible results this year," Han said.

"Especially in the semiconductor field, M&A efforts face difficulties, including national interest conflicts, regulatory hurdles and approval issues. Despite these challenges, we remain committed to achieving our goal."

Regarding increasing pressure from US tariffs, Han explained that Samsung is preparing various response measures, emphasizing that the company operates production facilities in multiple countries beyond Mexico and China, which are directly affected by US import duties.

Samsung is also closely monitoring US policy changes related to semiconductor subsidies and is reviewing contingency plans in case the Trump administration revokes previously pledged grants, Han said.

At Wednesday’s event, the company's external board member Shin Je-yoon, former chairman of Financial Services Commission, was approved to assume the role of Samsung's board chair. Samsung Vice Chairman Jun Young-hyun and Song Jae-kyuk, Samsung’s chief technology officer for the chip division and head of the Semiconductor Research Center, were also appointed as new internal board members following shareholder approval.

Additionally, Lee Hyuk-jae, a professor at Seoul National University and director of the university’s Semiconductor Joint Research Institute, was approved as an external board member.

Meanwhile, Samsung set up exhibition booths at the venue, where around 900 shareholders attended, showcasing its latest technologies and business innovations. The exhibition featured cutting-edge micro-LED screens, a four-legged defense and counterterrorism robot developed by Rainbow Robotics, and Ballie, a ball-shaped personal home assistant robot.

Samsung Electronics exhibit Rainbow Robotics' four-legged defense robot at this year's regular shareholders meeting held at Suwon Convention Center in Suwon, Gyeonggi Province on Wednesday. (Samsung Electronics)

herim@heraldcorp.com

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